Mario, Today's BBC news says this was a shock.
QUOTE Six central banks - including the Bank of England - have cut their interest rates by half a percentage point. The US Federal Reserve has cut rates from 2% to 1.5% and the European Central Bank (ECB) trimmed its rate from 4.25% to 3.75% UNQUOTE Comment: It may have been unexpected, but Gerry Coleman had this to say a week before: Panics are temporary and usually end because: – prices become low enough that buyers move in and start to reverse the trend – government initiatives are introduced – and we're getting that now – central banks usually take action – so I wouldn't be surprised if the Fed cut the discount rate soon. Roland. -- Roland Francis Toronto +1 (416) 453.3371
